Third Point LLC Invests $116.81 Million in Talen Energy Corporation $TLN

Key Points

• Third Point LLC acquired 585,000 shares of Talen Energy Corporation valued at approximately $116.8 million, making it the firm's 25th largest position with around 1.8% of its holdings.
• Several hedge funds, including PointState Capital LP and Ameriprise Financial Inc., significantly increased their stakes in Talen Energy during the first quarter, indicating growing institutional interest.
• Analysts have a consensus rating of "Buy" on Talen Energy, with a reported target price increase from Barclays to $418.00 and Melius Research initiating coverage with a $427.00 target.

Third Point LLC acquired a new stake in shares of Talen Energy Corporation (NASDAQ:TLN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 585,000 shares of the utilities provider's stock, valued at approximately $116,807,000. Talen Energy makes up about 1.8% of Third Point LLC's holdings, making the stock its 25th biggest holding. Third Point LLC owned about 1.29% of Talen Energy at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TLN. Wedbush Securities Inc. boosted its holdings in shares of Talen Energy by 4.4% in the 1st quarter. Wedbush Securities Inc. now owns 1,316 shares of the utilities provider's stock valued at $263,000 after buying an additional 55 shares during the period. IFP Advisors Inc boosted its stake in Talen Energy by 42.4% in the first quarter. IFP Advisors Inc now owns 188 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 56 shares during the period. Knights of Columbus Asset Advisors LLC grew its holdings in shares of Talen Energy by 2.7% during the first quarter. Knights of Columbus Asset Advisors LLC now owns 3,394 shares of the utilities provider's stock valued at $678,000 after purchasing an additional 88 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Talen Energy by 310.0% during the first quarter. Signaturefd LLC now owns 123 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 93 shares during the last quarter. Finally, LRI Investments LLC raised its position in shares of Talen Energy by 179.0% during the 1st quarter. LRI Investments LLC now owns 173 shares of the utilities provider's stock worth $35,000 after purchasing an additional 111 shares during the period. 0.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on TLN. UBS Group set a $431.00 price objective on Talen Energy and gave the company a "buy" rating in a research report on Friday, July 25th. Barclays lifted their price objective on shares of Talen Energy from $418.00 to $440.00 and gave the company an "overweight" rating in a research report on Thursday. Oppenheimer set a $315.00 price objective on shares of Talen Energy and gave the company an "outperform" rating in a research report on Friday, July 11th. Melius Research lifted their price objective on shares of Talen Energy from $427.00 to $576.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Susquehanna reiterated an "overweight" rating on shares of Talen Energy in a research report on Thursday, June 12th. Fifteen analysts have rated the stock with a Buy rating, According to MarketBeat, Talen Energy has a consensus rating of "Buy" and an average target price of $354.29.

Talen Energy Price Performance

Talen Energy stock traded up $1.76 during trading hours on Friday, hitting $402.68. 183,930 shares of the company traded hands, compared to its average volume of 1,176,372. The firm has a market cap of $18.40 billion, a P/E ratio of 114.43, a P/E/G ratio of 2.77 and a beta of 1.89. The company has a quick ratio of 1.34, a current ratio of 1.84 and a debt-to-equity ratio of 2.39. The firm's 50-day simple moving average is $350.99 and its two-hundred day simple moving average is $270.61. Talen Energy Corporation has a 1-year low of $148.02 and a 1-year high of $410.00.

Talen Energy (NASDAQ:TLN - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.13) by $2.63. The company had revenue of $630.00 million for the quarter, compared to analysts' expectations of $481.48 million. Talen Energy had a net margin of 8.75% and a return on equity of 17.81%. As a group, analysts forecast that Talen Energy Corporation will post 15.94 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Rubric Capital Management Lp sold 178,000 shares of Talen Energy stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $296.04, for a total value of $52,695,120.00. Following the transaction, the insider owned 5,734,970 shares of the company's stock, valued at $1,697,780,518.80. The trade was a 3.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 388,530 shares of company stock valued at $114,090,933. Insiders own 0.18% of the company's stock.

Talen Energy Company Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.